Asset Management One Co. Ltd. Sells 61,484 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Asset Management One Co. Ltd. decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 94.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,826 shares of the semiconductor company's stock after selling 61,484 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Enphase Energy were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. CX Institutional purchased a new position in shares of Enphase Energy during the 1st quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Enphase Energy in the fourth quarter valued at $47,000. GeoWealth Management LLC grew its stake in shares of Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after acquiring an additional 321 shares in the last quarter. Sava Infond d.o.o. acquired a new position in shares of Enphase Energy in the 4th quarter valued at approximately $69,000. Finally, Intact Investment Management Inc. bought a new position in Enphase Energy during the 1st quarter valued at $74,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ENPH. The Goldman Sachs Group decreased their target price on Enphase Energy from $90.00 to $77.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Mizuho set a $53.00 target price on shares of Enphase Energy and gave the company an "outperform" rating in a research note on Monday, June 2nd. Citigroup decreased their price target on Enphase Energy from $47.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday, June 5th. Oppenheimer set a $84.00 target price on Enphase Energy and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price target on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, June 20th. Twelve research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of "Hold" and a consensus target price of $65.44.

Insiders Place Their Bets

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the purchase, the chief executive officer directly owned 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company's stock.

Enphase Energy Stock Up 3.2%

Shares of ENPH traded up $1.26 during midday trading on Tuesday, reaching $40.91. 12,422,617 shares of the stock were exchanged, compared to its average volume of 6,034,789. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 37.88 and a beta of 1.70. The firm has a 50 day simple moving average of $43.49 and a 200-day simple moving average of $56.04. Enphase Energy, Inc. has a 12-month low of $33.01 and a 12-month high of $130.08. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70.

Enphase Energy Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.